Splunk Inc. [SPLK] Is Currently -0.29 below its 200 Period Moving Avg: What Does This Mean?

Splunk Inc. [NASDAQ: SPLK] traded at a low on 03/02/23, posting a -0.29 loss after which it closed the day’ session at $102.18. The company report on March 1, 2023 that Splunk Announces Fiscal Fourth Quarter and Full Year 2023 Financial Results.

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Revenues Grew 39% in Q4; Quarterly Revenues Exceed $1B for the First Time.

The results of the trading session contributed to over 3952827 shares changing hands. Over the past one week, the price volatility of Splunk Inc. stands at 4.01% while the volatility over the past one month is 3.68%.

The market cap for SPLK stock reached $17.04 billion, with 163.04 million shares outstanding and 162.96 million shares in the current float. Compared to the average trading volume of 1.95M shares, SPLK reached a trading volume of 3952827 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Splunk Inc. [SPLK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPLK shares is $115.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPLK stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Splunk Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 06, 2023. The new note on the price target was released on January 17, 2023, representing the official price target for Splunk Inc. stock. Previously, the target price had yet another raise to $86, while Wedbush analysts kept a Neutral rating on SPLK stock.

The Average True Range (ATR) for Splunk Inc. is set at 3.90, with the Price to Sales ratio for SPLK stock in the period of the last 12 months amounting to 5.16. Price to Free Cash Flow for SPLK in the course of the last twelve months was 57.53 with Quick ratio for the last quarter at 1.20.

How has SPLK stock performed recently?

Splunk Inc. [SPLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.58. With this latest performance, SPLK shares gained by 6.69% in over the last four-week period, additionally plugging by 10.29% over the last 6 months – not to mention a drop of -12.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPLK stock in for the last two-week period is set at 52.96, with the RSI for the last a single of trading hit 47.93, and the three-weeks RSI is set at 55.29 for Splunk Inc. [SPLK]. The present Moving Average for the last 50 days of trading for this stock 95.07, while it was recorded at 102.17 for the last single week of trading, and 92.29 for the last 200 days.

Splunk Inc. [SPLK]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Splunk Inc. [SPLK] shares currently have an operating margin of -41.97 and a Gross Margin at +72.55. Splunk Inc.’s Net Margin is presently recorded at -50.08.

Return on Equity for this stock declined to -147.41, with Return on Assets sitting at -22.97.

Splunk Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Insider trade positions for Splunk Inc. [SPLK]

There are presently around $14,889 million, or 88.20% of SPLK stock, in the hands of institutional investors. The top three institutional holders of SPLK stocks are: VANGUARD GROUP INC with ownership of 16,014,851, which is approximately 3.478% of the company’s market cap and around 0.30% of the total institutional ownership; H&F CORPORATE INVESTORS X, LTD., holding 12,799,822 shares of the stock with an approximate value of $1.31 billion in SPLK stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $1.12 billion in SPLK stock with ownership of nearly 22.798% of the company’s market capitalization.

Positions in Splunk Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 332 institutional holders increased their position in Splunk Inc. [NASDAQ:SPLK] by around 19,368,099 shares. Additionally, 295 investors decreased positions by around 15,490,011 shares, while 84 investors held positions by with 110,851,837 shares. The mentioned changes placed institutional holdings at 145,709,947 shares, according to the latest SEC report filing. SPLK stock had 110 new institutional investments in for a total of 5,760,626 shares, while 70 institutional investors sold positions of 5,402,402 shares during the same period.


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